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Utemis is the first ever business to business e-commerce platform offering decentralization of businesses’ reputation in the South American continent. Simply put, Utemis as a platform, brings the whole of Latin America into one decentralized marketplace using blockchain. The Utemis team aims to establish the platform as the blockchain based e-commerce giants of South America, similar to Alibaba in South Eastern Asia. Utemis is designed to provide a trustable marketplace for both the merchants and the customers alike. For the merchants, Utemis provides an even and fair platform with equal opportunities for the trading of their products. For the customers on the other hand, Utemis offers protection of funds used in purchases with the guarantee of a full refund if anything goes amiss.

The platform is powered by the Utemis token – UTS. The token was created to help protect merchants and businesses on the platform from the caprices of often irrational and dogmatic intervention by the South American governments and other regulating bodies that promote business unfriendly bank policies – like high commission charge on transactions, and expensive currency exchanges. The second phase of the Utemis ICO just kicked off, immediately after the completion of the first round at 1ETH for 1.5 million UTS with a Soft Cap target of 5,000 ETH.

History of Utemis

The idea of a Utemis ecosystem came from Dr. Juan Pablos Vazquez Sampere, founder and CEO of Utemis. A thorough analysis of the requirements for building such an ecosystem was carried out. This included the legal requirements; certifications and licenses, required technical staff – programmers and IT engineers etc. At the completion of the research, a 10-year business plan was drawn up for the ecosystem. The entire process took about six months to be completed.

In January 2018, on the first day precisely, the Utemis team swung into full action starting out with acquiring the first set of customers from Columbia, Mexico, and Brazil, some of the biggest South American countries – economically. These customers along with a list of other potential customers that had signed for the Alpha release of the Utemis platform were released on the website.

February 15th, 2018 saw to the commencement of the presale ICO, which was just the first stage of a three-phase token sale. Also in February, a private conference was held for the customers from Columbia, Mexico, and Brazil. The conference was essentially held to analyze the input and views of the customers about the major functionalities of the platform and possible implementations that could advance the platform and enhance its services. Interviews were conducted in Mexico and Brazil for competent sales personnel while plans were underway for the release of the Alpha version of the platform.

The first crowdsale started on March 1, 2018, just immediately after the pre-ICO was concluded. The Alpha version of the platform is still yet to be released though considerable progress has been made so far. Also currently in progress is the selection of headhunting agencies in Mexico, Columbia and Brazil.

Beginner’s guide to Utemis

Utemis is essentially Ali Baba on the secure and decentralized blockchain, but for Latin America. It utilizes a similar business model to what has been raking in millions of dollars for the Chinese e-commerce giants. With the integration of the latest technologies in a proven business model, the primary goal of Utemis is to carve out a name for itself in the South American marketplace.

The merchants’ distrust of the South American financial system necessitated a need for a trustable and secure currency which was provided by Utemis in the form of Utemis coin – UTS. This token is what unifies the entire Latin American continent in a single marketplace. With cryptocurrency based transactions on the platform, transactions are processed instantly and the commission charges are a fraction of the current cost in traditional systems.

Furthermore, Utemis also protects the interests and funds of the buyer by locking up funds in an escrow account. Until a trade a successfully completed, the money is not transferred to the seller and in a case where fraudulent activity is suspected, the buyer withdraws interest in the purchase or something goes wrong along the line, the funds in the escrow account are refunded to the buyer – 100%.

The blockchain technology is principally an incorruptible digital ledger of transactions shared amongst users on a network. With the decentralization of Utemis via blockchain, fraudulent and phony businesses will be put in check as only credible and trustworthy businesses can benefit from the system.

Conclusion

Utemis has the potentials to provide a proficient marketplace for both the merchants and customers, one that will also expectedly boost the economy of South America. Already, it is projected that by the end of the year – 2018, the platform would have generated as much as $650 million. The final stage of Utemis ICO is ongoing and interested investors can visit the website to participate. For more information and updates on their partnerships, ICO and yet to be released version, check out the website here.